[SMM Daily Review on Sheets & Plates] Sheets & Plates May Fluctuate at Highs in the Short Term

[SMM Stainless Steel Daily Review] SS Futures Continued to Pull Back, Stainless Steel Spot Quotes Were Lowered SMM News on March 19: SS futures extended their further downward pullback. Against the backdrop of hawkish remarks from the US Fed and escalating geopolitical conflicts, non-ferrous metal futures generally moved lower, with SS also declining in tandem and closing at 13,935 yuan/mt by the midday break. In the spot market, continued declines in SS futures significantly weakened market confidence; coupled with the recent pullback in high-grade NPI prices, market expectations for cost support also softened. In a market where transactions had already been sluggish this week, inquiries and deals weakened further; in addition, March supply remained high, prompting traders to lower their quotes for 304 stainless steel during the day. However, supported by news yesterday that steel mills were holding prices firm, 200-series stainless steel rose against the trend, with 201 stainless steel prices moving higher. Further attention should still be paid to downstream end-user purchase conditions. The most-traded SS futures contract fell and pulled back. As of 10:15 a.m., SS2605 was quoted at 13,930 yuan/mt, down 100 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the range of 340-540 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi rose 50 yuan/mt; for cold-rolled trim-edge 304/2B coil, the average price in Wuxi fell 150 yuan/mt and in Foshan fell 50 yuan/mt; cold-rolled 316L/2B coil in Wuxi fell 200 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi quotes fell 100 yuan/mt; cold-rolled 430/2... in both Wuxi and Foshan.

[SMM Daily Chrome Commentary: Production Cuts and Maintenance Tightened Supply, While Elevated Costs May Have Led to Losses] March 19, 2026: Chrome ore prices continued to rise, while ferrochrome quotations remained unchanged...

This week, HRC social inventory was 3.515 million mt, down 23,000 mt from the previous period, down 0.65% WoW, up 24.23% YoY, and up 20.86% compared with the same period on the lunar calendar. This week, HRC mill inventory was 1.2077 million mt, up 21,700 mt from the previous period, up 1.83% WoW, up 7.01% YoY, and up 2.00% compared with the same period on the lunar calendar. This week, total HRC inventory was 4.7227 million mt, down 1,300 mt from the previous period, down 0.03% WoW, up 19.32% YoY, and up 15.40% compared with the same period on the lunar calendar.